Trey Thoelcke
4 min read
Quick Read
-
Sell-side analysts assigned 41 Holds across 61 total ratings on UiPath, GitLab, and Figma, with consensus targets sitting below current prices on two names.
-
Institutions control 65% to 95% of the float across all three names, quietly building positions the sell-side declines to endorse.
-
UiPath’s 58% one-month surge and GitLab’s 36% gain pushed both stocks above analyst targets that sell-side has not revised upward.
-
Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and UiPath didn’t make the cut. Grab the names FREE today.
The sell-side signal on these three software names is cautious, and on two of them it is now openly bearish relative to where the stock trades. The institutional signal, read through aggregate ownership levels, points the other way, leaving retail investors with a genuine disagreement to price rather than a clean directional cue.
Analyst Coverage: Holds Outnumber Buys Three to One
Start with the ratings mix. On UiPath (NYSE:PATH), sell-side coverage skews decisively to the sidelines. The consensus price target is $13.44, well beneath the $18.33 close on August 27, 2026. In other words, the average analyst is modeling a price lower than the current price.
The distribution of GitLab (NASDAQ:GTLB) ratings tells the same story, and the consensus target of $38.48 is again below the last print of $44.81. Figma (NYSE:FIG) is the only one of the three where the consensus target of $30.80 essentially meets the current price of $30.62. Its coverage still leans neutral.
Across 61 total ratings on the three names, 41 are Holds. That is a wall.
Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and UiPath didn’t make the cut. Grab the names FREE today.
Institutional Positioning: The Smart Money Owns Nearly All the Float
Institutional ownership tells the opposite story. Institutions reportedly hold 65.2% of UiPath, 95.0% of GitLab, and 62.3% of Figma. These are quarter-end 13F snapshots and are disclosed with roughly a 45-day lag, so no filer should be assumed to hold the position today, and a change in reported market value is not a trade. Still, the ownership base is dense, and the newer disclosures show large funds continuing to establish and add to positions in the same names sell-side coverage refuses to endorse.
Fundamentals under those positions remain solid. UiPath posted Q1 FY27 revenue of $418 million, up 17% year over year, with ARR of $1.901 billion and dollar-based net retention of 109%. GitLab delivered $264 million in Q1 FY27 revenue, growth of 23%, and 117% net retention. Figma reported Q2 2026 revenue of $370 million, up 48%, with net dollar retention of 136%.
